USA – Cuisine Solutions, a US supplier of sous-vide products, has secured an investment of US$250 million from Bain Capital to accelerate production innovation and expand its global footprint.
Sous-vide also known as low temperature long time cooking, is a method of cooking in which food is placed in a plastic pouch or a glass jar and cooked in a water bath for longer than usual cooking times at a precisely regulated temperature.
The intent is to cook the item evenly, ensuring that the inside is properly cooked without overcooking the outside, and to retain moisture.
Cuisine Solutions which has developed a specialty in the form of food preparation is based in Virginia, United States and has factories in the US, France and Thailand.
The company’s customers include wholesale corporation Costco, Amtrak, Starbucks, and Hilton Hotels & Resorts.
The investment by Bain Capital would give the Boston, Massachusetts private investment firm “a minority investment”, according to a statement from Cuisine Solutions.
In a statement announcing Bain Capital’s investment, Cuisine Solutions said the backing would “provide additional resources to support accelerated product innovation and expand its business domestically and internationally, as well as the company’s global manufacturing footprint”.
Cuisine Solutions CEO Felipe Hasselmann and chairman, Stanislas Vilgrain, characterised as “significant owners” in the company, will continue to run the group. The Vilgrain family retains a controlling interest in Cuisine Solutions.
“Our future, while bright before this strategic partnership, is now even more exciting as we see substantial runway to drive growth and expansion through continued innovation across multiple product categories,” Hasselmann said.
“This investment will enable us to rapidly scale our worldwide manufacturing infrastructure, business partnerships, and fortify our supply chain, thereby creating additional scale to meet the growing needs of the global partners who rely on our products every day across tens of thousands of locations.”
Bain Capital, the recent investor in Cuisine Solutions, has a portfolio of food assets that include Ireland-based manufacturer Valeo Foods and in 2021 it realized US$111 Billion from its entire portfolio of companies.
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